CMHC MLI Select Underwriter

Calculate your MLI Select points and underwrite your deal with DSCR-first analysis.

Project Setup

Project Type

Location

Total Units

Market Rent (per unit/mo)

MLI Select Points

Select your commitment levels to calculate total points

Affordability

Energy

Accessibility

Total Points50

0Target: 50+190

Operating Assumptions

Vacancy Rate4.0%

Expense Ratio (% of EGI)35%

Rent Growth (Annual)0.00%

Development Costs

Land Cost

Hard Construction Costs

Soft Costs

Contingency (%)

Total Project Cost$19,950,000

Takeout Financing

Interest Rate5.50%

Amortization

Loan-to-Cost (LTC)85%

DSCR below 1.10. Optimal LTC for 1.10 DSCR: 77%

Deal Summary

DSCR

1.00xBelow minimum

Reduce leverage or raise income

Loan Amount

$16,957,500

Equity Required

$2,992,500

Stabilized NOI

$1,048,320

Annual Cash Flow

$-1,221

Affordability Summary

Affordable Rent$2,240/mo

Affordable Units5

Market Units45

Stress Test

Bear

0.75x

$-321,063

Base

1.00x

$-1,221

Bull

1.15x

$150,964

50 pts · DSCR 1.00x

Reduce leverage

DSCR 1.00x is below CMHC minimum. Lower LTC or cut costs.

Top 3 reasons

1DSCR 1.00x is below 1.10 CMHC minimum - reduce LTC to 77%
2Negative cash flow of $1,221/yr - review operating assumptions
35 affordable units at $2,240/mo - verify against local median income

Next best action

Keep going

Your next 3 moves

Deal Analyzer

Full investment underwriting.

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Multiplex Feasibility

Screen lots for development.

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Cap Rate & Cash Flow

Quick cap rate and cash flow check.

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